September 20, 2014
Yew Kong Lye
With the market hot around Essendon, Niddrie and the Moonee Ponds areas, interest rates are becoming even hotter! We've been seeing banks become even more competitive in the interest rates and even discounting loans.
Lately home loan rates have been behaving like a yoyo
When the Reserve Bank of Australia puts rates down, the banks don't always pass it on...it's been reported that the banks are no longer squeezed on their margins on home loans and are currently doing deals and reducing their home loan rates. But what does that all mean? Do you really know if your home loan rate is even competitive?
Great potential for savings available on home loans
There is potential for saving on some loans because of the fierce competition amongst the banks. Do you know that an annual savings of 0.25% on an average home loan of $500,000 will provide you with an 8 day holiday in Bangkok and Phuket (saw it in the press on the weekend). Getting stressed and need an annual holiday? Whatever the savings, it's better in your pocket than theirs.
Interest rates are currently at 50-year lows. Yet there is a significant gap between the highest and lowest home loan rates available, and it is important that you are getting the right rate for your needs.
Don’t pay more just because you are time-poor
There are hundreds of home loans to choose from – but I understand that you are busy, and researching the home loan market can be time-consuming. That’s where your local mortgage broker can help.
The only way you will know what the best savings in the market are, is to do a Home Loan Health Check which is free. You owe it to yourself to see if you can find a more appropriate home loan with the help of a good mortgage broker.
As a home loan specialist we deal with many of Australia’s leading lenders every day, and already I’ve helped hundreds of homeowners – just like you, just like you, save money with a simple home loan review. It costs you nothing and only takes a few minutes. But the results can be dramatic.
Don’t wait and act NOW
No matter whether you are buying your first home, investing in property or if you have held your current home loan for several years, now is the time to check that you are getting the best home loan deal possible.
Many of clients have enjoyed big savings on their home loans with my help. Now I’d like to help you save money. Call me now on 0413 871 888 to save.
What do you love most about saving on your home loan? Be sure to share our blog on Facebook and let others join the conversation.